CDL grew turnover in 2022, but profit slipped as R&D boosted
CDL has reported a 3.56% rise in turnover to £55.68m for the year ended 30 September 2022.
Since 2001, the software specialist has only ever twice reported declining turnover: in 2019 and 2020. The latest increase, from £53.76m in 2021, came as post-tax profit dropped from £11.19m to £10.64m.
However, in the past financial year the technology experts boosted research and development spend by more than the size of the fall in profits. It was up year-on-year from £10.48m to £11.29m.
Pivotal yearThe headcount at the firm ticked down by 25 people to 565 staff in 2022, as operating
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